The Iconic Jacaranda Hotel in Nairobi is set to be auctioned by mid-next month.
Regent auctioneers place a newspaper advertisement making March 12 as the deadline for the disposal of the Hotel linked to prominent politician late Njenga Karume.
“All intending purchasers are requested to view and verify the details by themselves, a refundable deposit of Sh5,000, 000 must be paid to obtain a bidding number,” a notice in local dailies read.
Jacaranda Hotel is a 128 bedroomed four-star hotel with ensuite bathrooms, satellite tv, and wireless internet connections.
The hotel development comprises the main hotel block in three wings incorporating the hotel reception, lounge, bedrooms among other facilities.
According to earlier newspaper reports, this is not the first time the hotel is advertised for auction.
“The applicant is apprehensive that if this matter is not heard, the respondent’s agents will proceed any time to attach and sell the distrainable chattels thus bringing the applicant’s business to a halt,” the trustees argued.
The Westlands-based hotel placed a counter-offer that it would pay Sh35 million in a week and clear the remainder within a year.
Jacaranda has been described as the single most important asset owned by the late Defence minister Njenga Karume.
The sale would complicate an already dire financial situation that the family is finding itself in after failing to agree on how to share the vast inheritance previously valued at Sh17.8 billion.